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Table 2 Conjunction of main corporate governance theories and practices

From: The practice of commissioning healthcare from a private provider: learning from an in-depth case study

THEORIES

PRACTICE

 

FOCUS

DYNAMICS

Agency:

Control of management; managers and owners/stakeholders have different interests; [23, 24]

Supervision of management

Risk minimisation & compliance

Monitoring of performance against targets and objectives

High challenge

Controlling

Critical style in order to achieve goals

Stewardship:

Joint endeavour with management; managers and owners/stakeholders have same interests [25]

Strategic thinking

Emphasis on improvements & excellence in performance & use of resources

Appreciative style to achieve goals

Collaborative

Resource Dependency:

Leveraging of external expertise and influence as organisation success dependent upon fit with external environment [26]

Policy formulation

Horizon scanning

Inward investment of resource and reputation

Predominantly external orientation

Management through influence

Stakeholder:

Mirroring community and society served to ensure that organisation serves its mission and purpose [28, 29]

Supervision of management

Monitoring of performance against targets and objectives

Creation of long term public value

System/ society focussed orientation

Consensual

Mindful of sectional or political interests

  1. (Source: [27])